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Saks Fifth Avenue Owner to Buy Neiman Marcus for $2.65 Billion—With Aid from Amazon [Yahoo! Finance]
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Bay Co. is said to have reached a definitive agreement to buy Neiman Marcus Group for about $2.65 billion, bringing the luxury department store together with Saks Fifth Avenue, according to sources familiar with the transaction. More from Sourcing Journal American Exchange Group Acquires Footwear Label Island Surf Company Neiman Marcus Cyber Attacker Looks to Sell Hacked Data of 'High Value Rich Targets!' FullBeauty to Acquire Plus-Size Brand Avenue In a digital age twist, Amazon is an investor in the deal, as are private equity giant Apollo and Salesforce. Saks and Neiman's have been in talks to merge many times over the years, but the latest negotiations began last summer. The Wall Street Journal on Wednesday reported details of the final agreement, which will still be subject to approval by the Federal Trade Commission, which has grown more assertive. As recently as two weeks ago, sources said the price tag on Neiman's was $3.1 billion, but at least some of the financ
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